In response to the directives of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz to find urgent and quick solutions for housing, the Ministry of Housing is preparing to engage international companies specialized in the field of housing and construction, which can complete housing projects in large numbers and low cost in a short time, in its efforts to expand the circle of partnership with the private sector.

<Informed press sources said that implementing the directives requires focusing on two important aspects, the first: Increasing financing in its various forms and the participation of financial institutions, banks, real estate finance companies and others and diversifying the roles of the Real Estate Development Fund, and the second: Providing land at appropriate prices to establish housing projects, whether individual or collective projects.

The Undersecretary of the Ministry of Housing for Planning and Studies, Eng. Mohammed Al-Zamea, confirmed that the Ministry is building apartments with an innovative system, where companies and developers design, implement and market directly to citizens, and carry out maintenance, under the supervision of the Ministry of Housing, so that the value of the apartment (unit) is within the value of the loan, i.e. 500 thousand riyals.

The value of the apartment (unit) is within the value of the loan.